Emerald Energy PLC
21 December 2006
Emerald Energy Plc
21 December 2006
Ombu Exploration and Production Contract Award in Colombia
Emerald Energy Plc ('Emerald' or the 'Company') is pleased to announce that it
has been awarded a new exploration & production contract (the 'Contract') in
Colombia. The Ombu Contract, in which Emerald has a 100% working interest,
covers an area of 300 sq. km and is located in the Caguan Basin, to the
south-west of the Llanos Basin, in Colombia.
The initial phase of the exploration period is 11 months and the minimum work
programme comprises the acquisition of 61 km of new 2D seismic data and the
re-processing of 60 km of existing 2D seismic data. If Emerald elects to enter
the second phase, the minimum work programme includes the drilling of 1 well to
an estimated depth of 5,000 ft.
The Ombu Contract has been awarded by the ANH, the National Hydrocarbon Agency
of Colombia, and a copy of the model contract terms can be found on the ANH
website (www.anh.gov.co).
Emeralds' Chief Executive Officer, Angus MacAskill, said:
'We are very pleased with the award of our second ANH E&P Contract in Colombia.
The award of this prospective acreage with a petroleum system, proven by
historic wells, contributes to the building of an exciting portfolio of
exploration opportunities for future growth.'
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